TessStynes

Most recently Mr. Ordan was chief executive of Sunrise Senior Living and led its turnaround and eventual sale to Health Care REIT Inc.
HCN, +0.12%
and KKR & Co.
KKR, +0.56%
He also guided the turnaround at Mills Corp. and led its sale to Simon and Farallon Capital Management LLC.

"We worked closely with Mark during the Mills transaction and found him to be a top-rate executive with particular expertise in creating value for an organization," Simon Chairman and CEO David Simon said in a news release.

Mr. Ordan also was the founder of Fresh Fields, which was sold to Whole Foods Market Inc.

Simon Property in December unveiled plans to spin off all of its strip centers and smaller enclosed malls into an independent, publicly traded real-estate investment trust, as the nation's largest mall owner looks to focus on its larger malls and outlets.

The new REIT is expected to have stakes in 54 strip centers and 44 smaller, enclosed malls, in 23 states. The move will leave Simon with roughly 225 malls, outlets and other retail properties in the U.S. and Asia.

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